Evening star. [volume] (Washington, D.C.) 1854-1972, 1887-07-22
ROBERT GARRETT SUED,
Ives & Stayner Insist Upon the Con
summation Of the B. Il O. Deal.


suits against Robert Garrett by Henry 8. Ives and
Geo. h. Stayner, the summons in each OF which
was served last night upon Mr.. Garrett at the Vic
toria Hotel One action is for the specific perform
ance on the part OF Mr.. Garrett Of contract made
between him and Henry 8. Ives and George H.
ixed sum controlling interest in the stock of the
Baltimore and Ohio Railroad, which carries with 1t
DOH the telegraph and express companies The
Ing OF this contract.
A gentleman who, 1t Is said, has been conversant
with the matter from its inception said last night
that to HIS knowledge Garrett entered into writ
ten contract with Ives and Stayner by which he
agreed 10 deliver to them controlling interest In
tne and o. Co. that all the negotiations were pro-
ceeding pleasantly, and that successful conclu-
sion had been expected yesterday or to-day. He
was complete surprise. II, as am told, Ives has
concluded TO light. can predict, from my knOwl-
81 al 1Rs @ sn1 hsrs T De
Bob Garrett IS a fighter, too His record shows
that, and he viii spare neither time nor money to
any demand on Garrett for the 5000, 600 cash paid
the latter when the contract was made, or for the
900 OF collateral put up by him and stayner,
as from the position he seems to be taking he
would naturally consider that a sale having been
maze TO him, the money and securities properly
would accept them If they were rendered to him.
II am told by those close to Mr.. Garrett that he
that may be the explanation of his conduct in
taking this step to freeze Ives out SO that he can
treat directly with the Gould party"
the bringing OF these suits was probably has
tened on account OF Mr.. CARROTS contemplated
departure for Europe to-day. Mr.. Garrett last
night declined to talk on the subject.
INSIDE HISTORY OF THE DEAL.
The Baltimore Sun gives the details of the deal
as follows: "Messrs Ives & Stayner bought from
Mr. Garrett the right and privilege of transfer of
the Baltimore and Ohio, paying 500, 900 cash and
about 81. 100000 in securities OF the Cincinnati,
Hamilton and Dayto road to bind the agreement.
major notf
Hamilton and Dayton road. Ives & Stayner sold,
or agreed to sell. to Mr. Could for s., cash.
the Baltimore and Ohio telegraph system In en-
tirety. When the parties met to pass title 1t was
found that sterling loans made by the Baltimore
ana OHIO Railroad In the past two years included
the telegraph rights as well the railroad priv-
leges. MIR. Gould Immediately refused to complete
the purchase. Since the failure both MesSrS. Ives
and Stayner have been using every endeavor to
get IL refund from Mr.. Garrett of the cash and Sc
curities advanced but up to the present time they
have not succeeded in effecting any satisfactory
they did not obtain from Mr.. Gould the S. 500 900
cash. which they hoped to use In perfecting the Gin
cinnatl, Hamilton and Dayton deal, and are now
tled up and unable to carry out their scheme"
WILL THE DEAL BE MADE ANYWAY?
AS to the future movements the Sun says: Wall
street. taken collectively does not believe that the
B. and o. deal is off. Brokers shake their heads
and say that Mr.. CARROTS letter was published
only to get rid OF the impecuniOuS Ives crowd and
leave the field open for other and more promising
negotiations. Common rumOr has coupled the
name OF DreXel, Morgan Co. with that OF Mr..
Gould as the probable purchasers OF the b. and o.
telegraph line, and 1t is generally believed that
DreXel, Morgan Co. are willing to take hold OF
another big railroad scheme. MIR. Gould has been
uncOmmOnly active in his visits to bankers and
prominent Wall street men during the past few
days, although neither he nor his son George were
In town to-day. At the Office OF DreXel, Morgan
Co. the most absolute ignorance concerning the
Il. and U. matters was manifested, but the same
thing happened in the matter OF the West Shore
n hours
ment was made that = Pierren pn MORAN and
Chauncey Depew had bought that road. In spite
OF MIR. CARROTS assertion that the control OF the
b. and o. will remain as at present, Wall street
men expect to see it change hands very quickly,
now that the ElOneyleSS syndicate headed by
young MIR. Ives has been brushed aside